Seminar speech for "Moon Mission"
Answers
June 20, 2005
Mr. Lucio Caracciolo,
Ladies & Gentlemen,
It is indeed a pleasure to be here today at this debate organised by Fondazione Ducci (pronounced Doochi) on "Europe-India : Collaboration in the Era of Globalisation”.
After the intense interactions across boundaries of the last decade and a half, there can be no doubt that "globalisation”, if it is rightly defined and allowed to develop in its full perspective, can indeed become the mantra of today’s world. On the other hand, if we do not allow it, because of narrow localized interests of for desire of concentration of power – if we do not allow it to evolve naturally and unfettered, letting it fulfil all its inherent promises – it would be another failed, but noble idea – like the now much-disfavoured concept of socialism, in spite of its egalitarian core, and the impact that it had on millions around the world.
To begin with, globalisation must not be regarded as essentially an economic doctrine. It must not merely be thought of as having access to Coca cola in the interiors of Mali or Cambodia. Nor should it be thought of as a one way process marking a linear horizontal movement of goods, technology and services from developed countries to poorer countries of the South. It must be continuous process of cross-linear fertilization between nations, and at the same time within the nation, an interactive process that feeds the international into the national and the local as also very importantly, the local and the national into the international.
I must, at this stage, recognise the benefits of globalisation for the Indian economy. Ever since we introduced economic reforms in 1991, the Indian economy has been growing at a steady 6 % plus – sometimes reaching as high as 8.5 % - and is expected to grow by around 7 % for the next few years. This, according to Western economic institutions, would make India the third largest economy in the world by 2035, a knowledge hub with 100 % literacy and stabilized population of around 1.5 billion.
Most encouragingly, the benefits of growth and economic reform have gone well beyond the 300 million middle class growing at around 15 million every year. The process is increasingly benefiting sections of our population who were earlier excluded, including most importantly, rural India. Poverty levels have gone down by as much as 16 % since the reforms started. Rural purchasing power is increasing faster than in urban areas. The Government of India, in its last budget, has introduced a massive $ 25 billion rural development project entitled "Bharat Nirman” – or India Rebuilding project. The scientist President of India, Dr. Kalam, has been propagating the idea of PURA – Providing Urban Amenities to Rural Areas, by improving all forms of connectivity. Rural India, where 70% of India’s population lives, is changing fast in all aspects – political, social and economic – with a level of political consciousness that all political parties must take into account.